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Circuit Breaker Market Trends

Report ID: GMI1172
Published Date: Dec 2024
Report Format: PDF

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Circuit Breaker Market Trends

The circuit breaker industry is witnessing several notable trends, including the increasing adoption of smart and digital circuit breakers. Growing demand for environmentally friendly and energy-efficient solutions is driving innovation in eco-friendly circuit breakers that reduce carbon footprints. Additionally, integration of Internet of Things (IoT) technology is enabling real-time monitoring and automated operations, making circuit breakers more efficient and reliable.

For instance, in November 2022, ABB launched VD4 evo digital medium voltage vacuum circuit breaker enhances the VD4 range with Industry 4.0 sensors for real-time monitoring. This innovation improves operational efficiency, cost-effectiveness, and supports the digital transformation of electrical distribution systems.

Furthermore, rising installation of renewable energy systems, including solar and wind, is increasing demand for specialized breakers that can handle intermittent power flows. Growth in emerging markets, particularly in construction and infrastructure, is also boosting market expansion.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of circuit breaker reached USD 23.2 billion in 2024 and is set to grow at a CAGR of 8.6% from 2025 to 2034, driven by technological advancements and infrastructure development.

The low voltage circuit breaker segment is expected to surpass USD 29 billion by 2034, fueled by increasing demand for safety, energy efficiency, and smart solutions.

The U.S. market is projected to exceed USD 6.5 billion by 2034, supported by grid modernization, sustainability initiatives, and smart grid adoption.

Key players in the industry include ABB, Alfanar Group, CG Power, Eaton, General Electric, HD Hyundai Electric, Kirloskar Electric, LS Electric, Mitsubishi Electric, Powell Industries, Schneider Electric, Sensata Technologies, Siemens Energy, Toshiba International, and WEG.